Anne Altmeyer Sells 1,060 Shares of Corbus Pharmaceuticals (NASDAQ:CRBP) Stock

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) Director Anne Altmeyer sold 1,060 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $20.50, for a total transaction of $21,730.00. Following the sale, the director directly owned 6,191 shares of the company’s stock, valued at $126,915.50. This represents a 14.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Corbus Pharmaceuticals Stock Down 8.4%

CRBP stock opened at $17.74 on Thursday. The stock has a market capitalization of $217.49 million, a P/E ratio of -3.73 and a beta of 2.84. The firm has a 50-day simple moving average of $12.18 and a 200-day simple moving average of $9.29. Corbus Pharmaceuticals Holdings, Inc. has a 52 week low of $4.64 and a 52 week high of $20.77.

Corbus Pharmaceuticals (NASDAQ:CRBP) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.44) EPS for the quarter, topping analysts’ consensus estimates of ($1.55) by $0.11. On average, analysts expect that Corbus Pharmaceuticals Holdings, Inc. will post -4.23 earnings per share for the current year.

Institutional Investors Weigh In On Corbus Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Comerica Bank raised its stake in Corbus Pharmaceuticals by 20,000,000.0% during the first quarter. Comerica Bank now owns 200,001 shares of the biopharmaceutical company’s stock worth $1,062,000 after purchasing an additional 200,000 shares during the period. Exome Asset Management LLC purchased a new position in Corbus Pharmaceuticals during the first quarter worth about $1,538,000. Aberdeen Group plc raised its stake in Corbus Pharmaceuticals by 168.6% during the second quarter. Aberdeen Group plc now owns 72,226 shares of the biopharmaceutical company’s stock worth $498,000 after purchasing an additional 45,332 shares during the period. Acadian Asset Management LLC purchased a new position in Corbus Pharmaceuticals during the first quarter worth about $1,007,000. Finally, Atle Fund Management AB raised its stake in Corbus Pharmaceuticals by 78.6% during the second quarter. Atle Fund Management AB now owns 175,582 shares of the biopharmaceutical company’s stock worth $1,212,000 after purchasing an additional 77,278 shares during the period. Hedge funds and other institutional investors own 64.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CRBP. Lifesci Capital raised shares of Corbus Pharmaceuticals to a “strong-buy” rating in a research note on Saturday, July 12th. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Corbus Pharmaceuticals in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Corbus Pharmaceuticals in a research report on Wednesday, October 8th. B. Riley upgraded shares of Corbus Pharmaceuticals to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, July 30th. Finally, Benchmark restated a “reduce” rating on shares of Corbus Pharmaceuticals in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.86.

Corbus Pharmaceuticals Company Profile

Corbus Pharmaceuticals Holdings, Inc, a biopharmaceutical company, develops products to defeat serious illness. It develops CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload of monomethyl auristatin E (MMAE), which is in Phase I clinical trial; CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells for the treatment of solid tumors; CRB-913, a peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity.